Spire Inc.

NYSE:SR Stock Report

Market Cap: US$4.9b

Spire Future Growth

Future criteria checks 1/6

Spire is forecast to grow earnings and revenue by 8% and 9% per annum respectively. EPS is expected to grow by 9.2% per annum. Return on equity is forecast to be 10.3% in 3 years.

Key information

8.0%

Earnings growth rate

9.24%

EPS growth rate

Gas Utilities earnings growth9.6%
Revenue growth rate9.0%
Future return on equity10.30%
Analyst coverage

Good

Last updated26 May 2026

Recent future growth updates

Recent updates

Seeking Alpha • May 28

Spire: Unusual Guidance Leads To Sell-Off

Summary Spire, Inc., is undergoing a major transformation, divesting non-core assets and acquiring Piedmont Natural Gas to refocus on regulated utilities. Management's guidance excludes the earnings impact of the Piedmont acquisition, causing confusion and a perceived sharp drop in forward EPS. Consensus estimates likely underestimate SR's true earnings power post-acquisition, creating a misleading V-shaped earnings outlook. I view SR as an attractive long-term "Buy," expecting steady EPS and dividend growth as regulatory clarity and operational focus improve. Read the full article on Seeking Alpha
Narrative Update • May 12

SR: Preferred Redemption And Updated Assumptions Will Support Stronger Future Total Returns

Analysts have trimmed their price target for Spire from $99.75 to $98.78 as they factor in updated assumptions that combine higher projected revenue growth with slightly lower profit margins and a modest adjustment to the expected future P/E multiple. What's in the News On February 13, 2026, Spire Inc.
Analysis Article • May 11

What You Need To Know About The Spire Inc. (NYSE:SR) Analyst Downgrade Today

The latest analyst coverage could presage a bad day for Spire Inc. ( NYSE:SR ), with the analysts making...
Narrative Update • Apr 24

SR: Preferred Redemption And Refined Assumptions Will Support Steady Future Total Returns

Analysts have adjusted their price target on Spire from $98.81 to $99.75, citing updated assumptions around slightly higher revenue growth, profit margins near 11.37%, and a modestly lower future P/E estimate of about 20.11x. What's in the News Spire plans to redeem all 10,000 outstanding shares of its 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock, along with the related depositary shares, at a redemption price of $25.36056 per depositary share.
Narrative Update • Apr 10

SR: Preferred Redemption And Steady Assumptions Will Support Future Total Returns

Analysts have nudged their price target for Spire higher from $96.25 to $98.81, citing updated assumptions around slightly different revenue growth, profit margin, and forward P/E expectations. What's in the News Spire plans to redeem all 10,000 outstanding shares of its 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock, including the related depositary shares, on an anticipated redemption date of February 13, 2026, at a redemption price of $25.36056 per depositary share, covering par value and accumulated dividends (Key Developments).
Narrative Update • Mar 26

SR: Preferred Redemption And Stable Assumptions Will Support Future Total Returns

Analysts have nudged their price target for Spire slightly higher to $96.25 from $96.13, tying the adjustment to modest tweaks in fair value inputs, revenue growth expectations, profit margin assumptions and the forward P/E framework. What's in the News Spire plans to redeem all 10,000 shares of its 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock, along with the related depositary shares, on February 13, 2026, at a redemption price of $25.00 per depositary share plus $0.36056 in accumulated and unpaid dividends, for a total of $25.36056 per share (company filing).
Narrative Update • Mar 09

SR: Preferred Redemption And Steady Assumptions Will Support Future Total Returns

Analysts have maintained their price target for Spire at $96.13, reflecting largely unchanged assumptions regarding fair value, discount rate, revenue growth, profit margin, and future P/E. What's in the News Spire plans to redeem all 10,000 outstanding shares of its 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock, including the related depositary shares, on the anticipated redemption date of February 13, 2026 (company filing).
Narrative Update • Feb 23

SR: Preferred Redemption And Stable Outlook Will Support Future Total Returns

Analysts have modestly raised their price target on Spire to $96.13 from $94.50. This reflects updated fair value and P/E inputs in their models, while core growth and margin expectations remain broadly consistent.
Narrative Update • Feb 07

SR: Higher Dividend And Preferred Redemption Will Support Future Total Returns

Analysts have lifted their price target for Spire to US$94.50 from US$93.44. This reflects updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E that slightly adjust their long term outlook for the business.
Narrative Update • Jan 24

SR: Higher Dividend Policy Will Support Attractive Future Total Returns

Narrative Update on Spire Analysts have made a very small adjustment to their price target on Spire to approximately US$93.44. This reflects slightly lower revenue growth assumptions and a modestly higher profit margin outlook within a largely unchanged discount rate and future P/E framework.
Narrative Update • Jan 09

SR: Higher Dividend And Stable Outlook Will Support Attractive Future Returns

Analysts have kept their fair value estimate for Spire steady at $93.50, explaining that updated assumptions for discount rate, revenue growth, profit margin, and future P/E are essentially unchanged and do not justify a new price target level. What's in the News The board of directors approved an annual common stock dividend of $3.30 per share, compared with the prior level of $3.14 per share (Key Developments).
Narrative Update • Dec 14

SR: Dividend Increase Will Support Attractive Long Term Shareholder Returns

Analysts have raised their price target on Spire to approximately $93.50 per share, reflecting improved confidence in the company’s long term earnings profile, supported by modestly lower perceived risk and stable growth assumptions. What's in the News The board of directors unanimously approved an increase in Spire's annual common stock dividend to $3.30 per share from $3.14, a 5.1 percent raise.
Narrative Update • Nov 30

SR: Dividend Hike And Margin Pressures Will Shape Balanced Shareholder Outlook

Analysts have increased their price target for Spire from $89.61 to $93.50. They cite expectations of higher revenue growth, despite a slight decline in projected profit margins and an uptick in anticipated future price-to-earnings ratios.
Analysis Article • Nov 24

Spire's (NYSE:SR) Shareholders Will Receive A Bigger Dividend Than Last Year

The board of Spire Inc. ( NYSE:SR ) has announced that the dividend on 5th of January will be increased to $0.825...
Analysis Article • Nov 20

Analysts Just Made A Major Revision To Their Spire Inc. (NYSE:SR) Revenue Forecasts

One thing we could say about the analysts on Spire Inc. ( NYSE:SR ) - they aren't optimistic, having just made a major...
Narrative Update • Nov 16

SR: Dividend Increase And Modest Adjustments Will Support Steady Shareholder Returns

Narrative Update: Analyst Price Target Shift for Spire Analysts have maintained Spire's fair value estimate at $89.61, citing minor adjustments to growth and profitability expectations that resulted in no change to the overall price target. What's in the News Spire's board of directors has unanimously approved an increase to the annual common stock dividend, raising it to $3.30 per share from $3.14 per share (Key Developments).
Narrative Update • Nov 01

SR: Measured Outlook Will Balance Profit Upside And Revenue Slowdown

Narrative Update on Spire: Change in Analyst Price Target Analysts have raised their price target for Spire from $83.69 to $89.61, citing adjusted projections in revenue growth, profit margin, and other key financial metrics. Valuation Changes Fair Value: Increased from $83.69 to $89.61, reflecting a higher assessment of Spire's intrinsic worth.
Narrative Update • Oct 18

Modernizing Infrastructure And Tennessee Expansion Will Unlock Capital Opportunities

Spire Analyst Price Target Rises Amid Improved Metrics Analysts have raised their fair value estimate for Spire from $80.36 to $83.69, citing improved financial forecasts and a modest uptick in profitability projections. Valuation Changes Fair Value Estimate has increased from $80.36 to $83.69, reflecting a modest rise.
Narrative Update • Oct 04

Modernizing Infrastructure And Tennessee Expansion Will Unlock Capital Opportunities

Analysts have slightly lowered their price target for Spire from $80.93 to $80.36. This reflects a modest adjustment based on updated forecasts for growth and profitability.
Analysis Article • Sep 11

Spire Inc. (NYSE:SR) Shares Could Be 20% Below Their Intrinsic Value Estimate

Key Insights Using the 2 Stage Free Cash Flow to Equity, Spire fair value estimate is US$95.64 Spire's US$76.32 share...
Analysis Article • Aug 24

With EPS Growth And More, Spire (NYSE:SR) Makes An Interesting Case

Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...
Analysis Article • Jul 30

Investors Appear Satisfied With Spire Inc.'s (NYSE:SR) Prospects

There wouldn't be many who think Spire Inc.'s ( NYSE:SR ) price-to-earnings (or "P/E") ratio of 18.1x is worth a...
Seeking Alpha • Sep 19

Spire: The High-Yield Preferreds Are The Best Play For This Utility

Summary Spire Inc. is a natural gas utility with 1.7 million customers in Missouri, Mississippi and Alabama. The 4.5% dividend yield is attractive and above the utility industry average of 3.9%.  Increases have been around 5.0% the last five years, and another raise will come in December. While Spire's fundamentals are stable, warmer winters and rising interest expenses have negatively impacted earnings, with 2024 projections lowered to $4.15-$4.25 per share. The preferred shares offer the better investment alternative, with a 5.9% yield, especially after the 0.5% Fed rate cut. Read the full article on Seeking Alpha
User avatar
New Narrative • Sep 03

Modernizing Infrastructure And Tactical Cost Management Propel Future Growth

Spire's emphasis on cost management and efficiency is set to enhance operational efficiency and lower overall costs, potentially boosting net margins from 2025.
Seeking Alpha • Jul 24

Spire: A Good Utility To Play Defense

Summary Spire Inc. is a reliable natural gas provider in the Southeastern US, with steady earnings and infrastructure investments for growth. The company focuses on gas utility services, with consistent dividend increases and long-term EPS growth, making it a good fit for income investors. Spire's earnings show consistent growth, with net economic earnings and net income increasing, supported by rate increases in states like Alabama and Missouri. Shares are a buy with a price target of $75. Read the full article on Seeking Alpha

Earnings and Revenue Growth Forecasts

NYSE:SR - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
9/30/20283,274352N/A8265
9/30/20273,064323N/A8887
9/30/20262,658273N/A6526
3/31/20262,601295-223616N/A
12/31/20252,557272-287578N/A
9/30/20252,476257-344578N/A
6/30/20252,310241-264666N/A
3/31/20252,302208-124807N/A
12/31/20242,45422328924N/A
9/30/20242,59323651912N/A
6/30/20242,61023155866N/A
3/31/20242,61422256820N/A
12/31/20232,609197-53681N/A
9/30/20232,666202-222440N/A
6/30/20232,670226-378255N/A
3/31/20232,700246-50480N/A
12/31/20222,457241-447114N/A
9/30/20222,199206-49755N/A
6/30/20222,175203-330234N/A
3/31/20222,054210-351246N/A
12/31/20212,278223-59512N/A
9/30/20212,236257-375250N/A
6/30/20212,197247-389237N/A
3/31/20212,191149-288307N/A
12/31/20201,80196-197413N/A
9/30/20201,85574-168470N/A
6/30/20201,82959-226464N/A
3/31/20201,829150-317475N/A
12/31/20191,917175N/A445N/A
9/30/20191,952179N/A451N/A
6/30/20191,966191N/A386N/A
3/31/20191,995221N/A445N/A
12/31/20182,005165N/A509N/A
9/30/20181,965214N/A457N/A
6/30/20181,985226N/A479N/A
3/31/20181,957222N/A372N/A
12/31/20171,807232N/A296N/A
9/30/20171,741161N/A288N/A
6/30/20171,761160N/A292N/A
3/31/20171,687149N/A311N/A
12/31/20161,633142N/A305N/A
9/30/20161,537144N/A328N/A
6/30/20161,462139N/A313N/A
3/31/20161,488143N/A286N/A
12/31/20151,756136N/A390N/A
9/30/20151,976136N/A322N/A
6/30/20151,995140N/A304N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: SR's forecast earnings growth (8% per year) is above the savings rate (3.5%).

Earnings vs Market: SR's earnings (8% per year) are forecast to grow slower than the US market (17% per year).

High Growth Earnings: SR's earnings are forecast to grow, but not significantly.

Revenue vs Market: SR's revenue (9% per year) is forecast to grow slower than the US market (11.8% per year).

High Growth Revenue: SR's revenue (9% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: SR's Return on Equity is forecast to be low in 3 years time (10.3%).

Discover growth companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/29 04:47
End of Day Share Price 2026/05/29 00:00
Earnings2026/03/31
Annual Earnings2025/09/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Spire Inc. is covered by 16 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ross FowlerBofA Global Research
Ross FowlerBofA Global Research
Michael GauglerBrean Capital Historical (Janney Montgomery)